Compass Therapeutics is a clinical-stage oncology biopharmaceutical company with no approved products or revenue, focused on developing antibody-based cancer therapies. Compass's core scientific thesis is that simultaneously targeting tumor blood vessel formation (angiogenesis) and immune system pathways can starve tumors of blood supply and enhance anti-tumor immune activity. Its lead asset, tovecimig, is a bispecific antibody that blocks two tumor vascularization pathways (DLL4 and VEGF-A). Tovecimig is in a Phase 2/3 trial in second-line biliary tract cancer, a rare and aggressive gastrointestinal cancer with limited approved treatment options. That trial met its primary endpoint, with PFS and OS data expected in April 2026. Compass also has three other clinical-stage candidates: CTX-471, a CD137 agonist antibody designed to activate T-cells in the tumor microenvironment, which showed responses in melanoma and other cancers in Phase 1; CTX-8371, a bispecific antibody targeting both sides of the PD-1/PD-L1 checkpoint simultaneously; and CTX-10726, a PD-1 x VEGF-A bispecific that entered Phase 1 in early 2026. Compass funds operations through equity raises, contracts out all manufacturing, and has 39 employees. Its path to revenue runs through either FDA approval and independent commercialization or out-licensing to larger partners — it has already out-licensed tovecimig rights in South Korea and China.